QuadReal Property has acquired a £500m (€437.7m) UK purpose-built student accommodation (PBSA) portfolio from Apollo-managed funds and entities.
The global real estate investor said it has acquired the portfolio comprising eight assets with 3,460 beds located across the UK, including London.
In the UK, QuadReal has over 8,500 residential units and 1,000 student beds in 29 communities and has delivered more than 1,300 units in 2024 alone, in part via its partnership with Realstar.
Jay Kwan, managing director, Europe, at QuadReal Property, said: “Across our global portfolio, we are highly selective about the assets we acquire, and target markets with strong fundamentals and significant demand drivers.
“With resilient demand, structural undersupply, and a large cohort of international students, we have been actively looking to grow our PBSA exposure in the UK and this is an opportunity to expand our student housing platform.”
Kristian Branum-Burns, SVP Europe, international real estate, at QuadReal, said: “This transaction is fully aligned with our fundamentals-driven residential strategy in Europe, and student accommodation is a crucial sector for us.
“These are high-quality, amenity-rich assets servicing in-demand universities across the country, and the portfolio is well placed to deliver sustained rental growth over the coming years.”
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